Salon/Office Rental Business - Owner Absentee

Not Disclosed, MI
Wayne County


Asking Price: Annual Revenue:
$350,000 $226,480

Miscellaneous: Non-classifiable


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RE: Salon/Office Rental Business - Owner Absentee Broker: Inquiry
Owner Financing is Available!
Seller financing available with $150,000 down payment.

Quick Facts

Asking Price: $350,000
Annual Revenue: $226,480
Net Profit: Not Disclosed
Cash Flow: $132,496
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2018
Employees: Not Disclosed
BBN Listing #: 70322679
Broker Reference #: B2637

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Business Overview:

Chair/office rental businesses have been growing in demand. Franchise businesses like this cut too much into profitability. The better option is to get your own that is established with leases in place.

This business is not your average Chair/office rental. Not only does it have 12 rooms to be rented but it also has a full commercial kitchen and a banquet hall that go along with the business. The current owner has 8 of the 12 suites rented with 6 or 12-month leases in place. The tenants are hairstylists, make-up artists, nail techs, and some are just renting an office. The commercial kitchen gets rented out for events or by individuals who need a space to cook. The kitchen has all the commercial-grade equipment needed to operate. Rent for the kitchen is $3,500 a month. The banquet hall is nicely decorated and gets used frequently for office events/parties. Currently, the hall is rented out until the end of January for private events. The hall’s rent is $800 a night.

This is truly an owner absentee business. The business is inside a 12,000 +/- Square Feet building located in a high-traffic area. The 2020 rental income was $226,480 with a Cash Flow of $132,496 during covid. The main responsibility of the owner is to keep the leases in place and get new tenants when needed. All tenants have their own key to the front door so they can run their business on their own schedule. The individual suites have a keypad lock so they can be accessed whenever they have appointments. The rent for a single suite is $700 a month.

This is truly a turn-key business that has enormous potential to generate more than the current $132,496 in cash flow. A new owner can do more advertising for the banquet hall rental and to individuals looking to rent a commercial kitchen. Partnering with local organizations that need a large hall for meetings/parties would be another great way to keep that hall rented out constantly.

Don’t miss out on this passive income business.

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Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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